Private Credit Archives | Private Equity Bro

Middle-Market CLO vs. Broadly Syndicated CLO

28 September 2026

In a middle market CLO vs broadly syndicated CLO comparison, two deals can share the same tranche stack, the same…

Top Subscription Line Lenders to PE Funds in 2027

17 September 2026

Citizens disclosed $8.6bn of subscription lines within $17.2bn of loans to finance and insurance companies, placing capital call facilities just…

Fund Finance Underwriting for Lenders

10 September 2026

A subscription line and a NAV facility can carry the same borrower name and almost nothing else in common. The…

Loan-to-Own Strategy in Retail Distress

7 September 2026

An investor buying a defaulted mortgage on a half-empty shopping centre is doing two things at once. It is pricing…

Debt-for-Equity Swap in Distressed PE: Case Study

29 August 2026

When a private-equity-backed company cannot service its debt, the negotiation stops being about interest rates and starts being about ownership.…

DIP Financing vs Exit Financing in Chapter 11

23 August 2026

A debtor-in-possession loan sits at the top of the capital structure, is over-collateralised, carries restrictive covenants and mandatory prepayments, and…

Unitranche vs. Mezzanine Financing: Which Debt Structure Fits Your Deal?

20 July 2026

Unitranche vs mezzanine financing describes the choice between two distinct private debt structures. A unitranche loan is a single secured…

How to Navigate the Term Sheet Process in Private Credit

13 June 2026

This article explains how private equity sponsors should manage the private credit term sheet process, compare multiple lender proposals, negotiate…

How to Run a Bookbuilding Process in Private Credit

12 June 2026

Private credit bookbuilding is the process of testing lender appetite, collecting indications of interest, comparing leverage and pricing, and selecting…

Top Private Credit Firms: Key Players Investors Should Know

8 June 2026

Private credit is non-bank lending and credit investing negotiated outside broadly syndicated bond and loan markets. It includes direct lending,…

Leverageable Assets in Private Equity: Their Strategic Role Explained

16 March 2026

Leverageable assets are cash-flowing or monetizable assets that can support third-party debt at the portfolio company, holdco, or fund-adjacent level.…

Interest-Only Mortgages: How They Work, Risks, and When They Fit

29 November 2025

An interest only mortgage is a loan where the borrower pays only interest for a defined period, with no reduction…

What Is SBIC Capital and How Does the Program Work?

28 October 2025

SBIC capital is long-term, SBA-guaranteed debt that licensed Small Business Investment Companies use to amplify private limited partner commitments for…

Private Credit ETFs Explained: Structure, Risks, Returns

24 October 2025

A private credit ETF is an exchange-traded fund that aims to deliver private lending-like returns with daily liquidity. Because the…

Underwriting Equipment Finance in Private Credit: Residual Value, Terms, Default Risk

21 October 2025

Equipment finance means secured lending or leasing against movable business assets like trucks, construction gear, and manufacturing equipment. Private credit…

Call Protection & OID in Private Lending: Full Guide

18 October 2025

Call protection and original issue discount are the twin levers that set the true cost of exiting a private credit…

Amend-and-Extend in Private Credit: Pricing, Fees & Triggers

15 October 2025

An amend-and-extend (A&E) loan is a negotiated modification that pushes out maturity while repricing risk, without the cost and timeline…

EBITDA Add-Backs in Private Credit: Rules, Risks & Realities

14 October 2025

EBITDA add-backs are categories of expenses or losses added back to earnings to calculate covenant EBITDA, the non-GAAP measure that…

Intercreditor Agreements & Lien Subordination in Direct Lending

13 October 2025

Intercreditor agreements set the rules among creditors that share the same collateral. They decide who controls enforcement, how proceeds flow,…

How SOFR Floors Affect All-In Lending Rates in Private Credit

9 October 2025

A SOFR floor is a contractual safeguard that shifts interest rate risk between borrower and lender. In private credit and…

Unitranche Loans: Pricing Structures, Terms, and Adoption in Private Credit

8 October 2025

A unitranche loan is a single debt facility that blends senior and subordinated risk into one instrument with one coupon.…

Private Credit vs. Bank Loans: Comparing Covenants, Underwriting and Costs

6 October 2025

Private credit refers to nonbank lenders such as direct lending funds, business development companies, and insurance platforms that originate and…

Private Credit vs. High-Yield Bonds: Comparing Yield, Liquidity and Recoveries

5 October 2025

Private credit refers to non-traded loans that funds or Business Development Companies extend directly to sponsor-backed borrowers, typically as senior…

Europe vs U.S. Private Credit: Pricing, Documentation, and Deal Flow Trends

3 October 2025

Private credit is direct lending by non-bank institutions to private companies. In sponsor-backed deals, it is now the default financing…

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